Minerco Resources, Inc. (OTCMKTS:MINE) Awaits Further Instructions at Peak Levels
After the long Labor Day weekend, stocks that hang at very high levels are a thing to watch for a bigger than usual move. One of these tickers is Minerco Resources, Inc. (OTCMKTS:MINE). The company stands at the highest position in the past three months- but in the double-zero range, all moves are sudden. MINE added more than 13% on volumes above $186,000 at the end of last week, and now stands at $0.0067, after being promoted from levels of $0.0010. 
The promotion in June still had its effect, and it could not be otherwise, given that MINE was at one of the lowest tiers, ready to break down to the triple-zero price. Interestingly, MINE has hung around longer than the usual sub-penny ticker.
And of course, the underlying financials are not unusual for such a ticker:
- $919 cash
- $26 thousand total assets
- $1.7 million total liabilities
- $ZERO revenues
- $194 thousand net loss
Still, MINE moves on inertia as an easily accessible ticker, easily moving between 50 and 100 million shares per day, out of 989 million shares outstanding, and a market cap of $6 million. And MINE became active once it fell below the cent- with barely any volumes moving without the help of promoters. In 2011, MINE was at the respectable $1.70 levels.
Lions of WallStreet has already moved on with new selections. Immediately following MINE, the pumper took up another bottom-dweller, Discovery Minerals, Ltd. (OTCMKTS:DSCR). This double-zero stock reacted badly to the promotion, sinking from $0.0080 to triple zeroes.
Before that, the same pumper joined the ranks for the sordid promotion of iTalk, Inc. (OTCBB:TALK), an otherwise respectable ticker that slid from $2 to 22 cents once the emails were silent.
The new month may bring fresh sub-penny selections that often bring phenomenal short-term gains. Still, it is best to be aware of the risks and avoid this price range unless you are ready to lose a large part of your investment, often within minutes or hours.
While MINE has no indications of stopping, it had a day of retreat, so we may reasonably expect other days in the red in the shorter trading week. And this would have little to do with the company’s plans to release a line of caffeinated beverages. Nor do the promises help the mood of investors, which tend to distrust the underpriced, though disproportionately active ticher.
